Introducing BEAUTY&YOU India 2024: Fueling Innovation in the Indian Beauty Landscape

Rhea-AI Summary

The Estée Lauder Companies (NYSE: EL) announces the third edition of BEAUTY&YOU India for 2024, focusing on 'Supercharged Futures' in the Indian beauty sector. Created by ELC's New Incubation Ventures and partnered with NYKAA, the program aims to discover and support India-focused beauty brands. Applications open from July 16 to August 29, 2024, with winners announced on November 16, 2024, in Goa.

The 2024 program introduces the BEAUTY&YOU India Bootcamp, offering winners one-on-one mentorship with industry leaders. Prizes include financial support up to 4 Crore ($500k), distribution access, mentorship, and research resources. Categories cover Skin Care, Make Up, Hair Care, and Fragrance, with awards for pre-launch concepts, in-market concepts, and creative talent.

Positive

• Expansion of BEAUTY&YOU India program to its third year, indicating successful growth
• Introduction of BEAUTY&YOU India Bootcamp with high-profile mentors
• Doubling of applicant pool from 2022 to 2023, showing increased interest and visibility
• Significant prize pool of up to 4 Crore ($500k) for winners
• Partnership with NYKAA, India's preferred beauty and lifestyle retailer

Negative

• None.

Created by ELC’s NIV and launched in partnership with NYKAA, BEAUTY&YOU India enters its third year focused on Supercharged Futures in the Indian Beauty Sector

NEW YORK--(BUSINESS WIRE)-- The Estée Lauder Companies (NYSE: EL) (“ELC”) is pleased to announce the third edition of BEAUTY&YOU India. Created by ELC’s New Incubation Ventures (“NIV”) and launched in partnership with India’s preferred beauty and lifestyle retailer - NYKAA, BEAUTY&YOU India continues its mission to discover, spotlight, and propel the next generation of India-focused beauty brands. The program supports India-focused companies, entrepreneurs, innovators, and creators through a competitive application process that will be open to prospective applicants on July 16, 2024, through August 29, 2024, via www.beautyandyouawards.com. Winners will be announced on November 16, 2024, at a live event in Goa.

Introducing BEAUTY&YOU India 2024: Fueling Innovation in the Indian Beauty Landscape (Photo: Business Wire)

The 2024 program builds on the success of previous years with the theme of Supercharged Futures. The beauty opportunity in India continues to grow with more brands, increased innovation, significant investment dollars, and a consumer base looking for the best solutions. BEAUTY&YOU India 2024 seeks applicants with a supercharged vision for the future of Indian beauty and its impact on the broader beauty ecosystem. This encompasses companies with social initiatives that enhance the lives of their communities and the ecosystems in which they operate. It also includes founders who are developing new technologies, ingredients, or solutions that address existing challenges for Indian beauty consumers while driving innovation across Skin Care, Makeup, Hair Care and Fragrance categories.

An exciting addition to this year's program is that winners will have access to the BEAUTY&YOU India Bootcamp, featuring one-on-one mentorship sessions with industry leaders Falguni Nayar, Founder & Chief Executive Officer, NYKAA; Sabyasachi Mukherjee, Founder, Sabyasachi; and Rohan Vaziralli, General Manager, ELCA Cosmetics Private Limited. This unique opportunity is designed to provide the winners with invaluable insights and mentorship from these experts and affirms the program’s commitment to fostering the growth and development of the next generation of Indian-focused beauty entrepreneurs.

From the first edition in 2022 to the second in 2023, the applicant pool doubled in size. This growth has significantly enhanced the visibility and opportunities for the winners, underscoring the program's positive impact.

“India represents one of the most exciting global economies for beauty today. A growing consumer base, an exciting retail landscape, and one of the most powerful entertainment markets in the world continue to fuel unprecedented growth. The market is poised to continue to drive both national and global trends. We are excited to support the founders and creators in their journey,” said Shana Randhava, Senior Vice President, New Incubation Ventures, ELC.

"The global recognition of India’s potential as both a powerful consumer market and entrepreneurial hub is more evident now than ever before. NYKAA is proud to be a part of nurturing this ecosystem,” said Anchit Nayar, Executive Director & CEO, NYKAA Beauty. “In its third edition, BEAUTY&YOU India is more than just a platform — it's a gateway for Indian entrepreneurs to showcase their creativity and rigor on a global stage and we are excited to be part of their future.”

"Participating in BEAUTY&YOU India since its first edition has been an immensely rewarding experience, particularly in seeing its transformative impact on the Indian beauty industry. The program enhances the trajectory of emerging brands by providing a platform that fosters growth, innovation, and visibility,” said 2024 BEAUTY&YOU India judge Katrina Kaif, Actor and Co-Founder, Kay Beauty, “In my role as the co-founder of Kay Beauty, I have a deep appreciation for such platforms that support entrepreneurs in their journey. As we enter the third edition, I am as excited and committed as ever to discover and support brands that are shaping the future of beauty in India."

2024 Prize Program

The following prizes are open to founders, companies, and creatives meeting specific application criteria available at www.beautyandyouawards.com/application-criteria. The following awards will be presented across categories in Skin Care, Make Up, Hair Care, Personal Fragrance, and Home Fragrance:

• IMAGINE: Pre-Launch Beauty Concepts
• GROW: In-Market Beauty Concepts
• CREATE: The Next Generation of Creative Talent (e.g., photographers, filmmakers, etc.) Submitting Work Around the Theme of ‘Supercharged Futures’

Among other resources, BEAUTY&YOU India 2024 will provide award recipients with financial support (a prize pool up to 4 Crore or $500k), distribution channel access, mentorship, and access to research and innovation resources.

The BEAUTY&YOU 2024 website and application portal go live July 16, 2024, and will accept applications until August 29, 2024, 11:59 PM IST. Full program details are available at www.beautyandyouawards.com.

2024 Judges

Shana Randhava
Senior Vice President, New Incubation Ventures, The Estée Lauder Companies

Anchit Nayar
Executive Director & CEO, NYKAA Beauty

Katrina Kaif
Actor and Co-Founder, Kay Beauty

Gaurav Gupta
Couturier, Artist and Designer

Anaita Shroff Adajania
Stylist, Creative Director & Founder, Style Cell

Samrath Bedi
Executive Director, Forest Essentials

Diipa Büller-Khosla
Founder, indē wild

Sandhya Devanathan
Vice President & Head – India, Meta

Rohan Vaziralli
General Manager, ELCA Cosmetics Private Limited

Jaffrey Zaman
Managing Director, Intercos India Private Limited

Gianandrea Ferrari
CEO, Intercos Europe, Middle East & India

Sumit Bhasin
Senior Vice President, Global Fragrance Innovation, Product Development & R&D, The Estée Lauder Companies

Dr. Jaishree Sharad
Celebrated Cosmetic Dermatologist, author and TEDx Speaker

Shruti Chandra,
Vice President, Invest India and Vice Chair, Women Empowerment, Europe India Council for Business and Industry (EICBI)

Rochelle Pinto
Head of Editorial Content, Vogue India

Sujata Assomull
Contributing Editor, Vogue Business

Deepica Mutyala
Founder and CEO, Live Tinted

About BEAUTY&YOU India

BEAUTY&YOU aims to help founders, innovators and creators grow their businesses holistically by identifying brand goals, achieving scale ambitions and curating product portfolios that speak to a new generation of Indian consumers.

About The Estée Lauder Companies’ New Incubation Ventures

New Incubation Ventures (NIV) is the strategic early-stage investment and incubation arm for The Estée Lauder Companies. NIV partners with forward-thinking founders and entrepreneurs to create, fund, and support the best-emerging beauty brands and new business models to shape the future of beauty and build an actionable pipeline of diversified brands and new engines of growth for the ELC portfolio.

About The Estée Lauder Companies

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

About NYKAA

Born out of a desire to make beauty a mainstream choice, Nykaa began in 2012 as a digitally native, consumer-tech company. Through founder Falguni Nayar’s vision to bring inspiration and joy to people everywhere, it tapped into an underserved beauty retail market, disrupting the ecosystem and putting India in the global spotlight. Today, Nykaa has expanded its offerings to include lifestyle and B2B by introducing online platforms Nykaa Fashion, Nykaa Man and Superstore.

Over the years, Nykaa has steadily captured the hearts of Indian consumers, ushering visits to its online and 175 offline destinations and building loyal communities through engaging and educational content. Nykaa continues to build its house of brands with a sharp focus on innovation and consumer delight. Beauty brands such as Kay Beauty, Nykaa Naturals, Nykaa Cosmetics and Wanderlust along with fashion brands such as Nykd, Gajra Gang, Likha, RSVP and Pipa Bella have become household names as they consistently deliver inspiration and high-performing products to the consumers.

Nykaa’s unwavering commitment to authenticity and putting the customer at the heart of everything that they do has made it the retailer of choice for international brands entering India. Its Global Store, a gateway into the world of coveted international brands, leverages the company’s proven supply chain and marketing capabilities to offer a truly seamless shopping experience.

Website: www.beautyandyouawards.com
Instagram: @beautyandyouawards

ELC-C

View source version on businesswire.com: https://www.businesswire.com/news/home/20240715092980/en/

Media Relations:

Jill Marvin

jimarvin@estee.com

Investor Relations:

Rainey Mancini

rmancini@estee.com

Source: The Estée Lauder Companies Inc.

FAQ

When does the application period for BEAUTY&YOU India 2024 open and close?

The application period for BEAUTY&YOU India 2024 opens on July 16, 2024, and closes on August 29, 2024, at 11:59 PM IST.

What is the theme for BEAUTY&YOU India 2024?

The theme for BEAUTY&YOU India 2024 is 'Supercharged Futures', focusing on innovative visions for the future of Indian beauty.

What categories are included in the BEAUTY&YOU India 2024 awards?

The awards cover categories in Skin Care, Make Up, Hair Care, Personal Fragrance, and Home Fragrance, with specific awards for pre-launch concepts, in-market concepts, and creative talent.

What is the total prize pool for BEAUTY&YOU India 2024?

The total prize pool for BEAUTY&YOU India 2024 is up to 4 Crore (approximately $500,000).

Who are some of the mentors in the new BEAUTY&YOU India Bootcamp?

The BEAUTY&YOU India Bootcamp mentors include Falguni Nayar (Founder & CEO of NYKAA), Sabyasachi Mukherjee (Founder of Sabyasachi), and Rohan Vaziralli (General Manager of ELCA Cosmetics Private ).